MELBOURNE, Australia & LONDON–(BUSINESS WIRE)–Therium Capital Management, a leading provider of litigation finance
globally with over $800 million of assets under management, announced
today that it is planning to launch a full service offering in Australia
on 1 January 2019. Therium Australia will be based in Melbourne. Founded
in 2009, Therium Capital Management is one of the largest and most
established litigation financing firms in the world. The firm has funded
claims valued at $36 billion.
Therium’s full service operations in Australia will be headed by Simon
Dluzniak, an experienced litigation funding professional, who has worked
in the industry in both Australia and the UK since the early 2000’s.
Within Australia, Therium will finance class actions and general
commercial, insolvency and arbitration claims. Therium Australia will
also seek to develop the country’s emerging corporate funding and
portfolio funding markets. Outside of Australia, Therium Australia will
look to fund arbitration claims in Hong Kong and Singapore, both of
which are emerging markets for litigation finance.
Therium has funded claims in Australia since 2011 and is currently
funding high profile shareholder class actions against financial
services firms AMP Ltd and Commonwealth Bank of Australia Ltd, as well
as delivery management software company GetSwift Ltd.
Neil Purslow, Co-Founder and Chief Investment Officer of Therium, will
be speaking about litigation funding at a Herbert Smith Freehills class
action panel in Melbourne on 17 October. He said: “We know the
Australian litigation funding market well as we have been active in the
country for several years. We are seeing a healthy demand for our
services across a range of litigation areas and industries in Australia,
so it is the natural moment for us to open an office in the country.
“The market in Australia for litigation funding of class actions,
general commercial cases and insolvency matters is both well-established
and currently very buoyant. There is also a very substantial opportunity
for Australian corporates to use funding as a form of off balance sheet
finance, and for us to also provide portfolio funding to them – and the
law firms that act for them. Both of these are established funding
practices in the UK and the USA.”
Therium has operations across Europe, including in the UK, Germany,
Italy, Spain and Scandinavia, and in the USA. Therium was the first
commercial litigation funder to be have operations on the ground in
Germany and Scandinavia and it was the first European firm to launch a
full service business in the USA.
Litigation funding allows individuals and companies to take on
litigation and arbitration cases that they might not otherwise be able
to afford, and/or to hedge the costs and risks involved in such matters.
Therium pays for all of the costs, including adverse costs in the event
that the case is lost, and only receives payment if the case is won.
Founded in 2009, Therium is a leading global litigation financing firm
with a market-leading track record of generating superior returns for
its investors. The firm works across all forms of commercial litigation
and arbitration and invests in a broad range of complex commercial
disputes, from securities and shareholder actions, international
arbitration, competition and antitrust cases, through to intellectual
property, insolvency and class actions. In February 2018, Therium
announced its latest fund of £200m, which the company is now actively
deploying, and Therium has now raised nearly $800 million since its
foundation. To date, the firm globally has funded claims valued at $36
billion. Therium has consistently been at the forefront of innovation in
litigation finance, pioneering the combined use of insurance tools
alongside funding vehicles, and introducing portfolio funding products
into the UK.
The firm’s ability to develop innovative funding arrangements and
bespoke financial solutions for litigants and law firms complements its
unmatched experience and rigorous approach to funding a wide range of
commercial disputes in varying jurisdictions throughout the world. In
Chambers and Partners’ inaugural litigation support directory this year,
Therium was ranked as a Tier 1 litigation funder. Therium is a founder
member of the Association
of Litigation Funders.